August 1, 2012 / 12:00 PM / 5 years ago

Owens Corning results miss expectations

Aug 1 (Reuters) - Building materials maker Owens Corning’s quarterly profit missed analysts’ expectations, hurt by a fall in revenue at its composites segment.

Net income attributable to Owens Corning for the second quarter fell to $39 million, or 32 cents per share, from $78 million, or 62 cents per share, a year-ago.

Excluding items, it earned 54 cents per share.

Revenue dropped 4 percent to $1.39 billion.

Revenue at the composites segment, which accounts for more than one-third of the company’s sales, fell 6 percent to $498 million.

Analysts on average had expected earnings of 64 cents per share, before items, on revenue of $1.50 billion, according to Thomson Reuters I/B/E/S.

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